🚨 PAXG/BTC Analysis – Gold appreciating against BTC
In the last few hours, tokenized gold (PAXG) has shown a strong appreciation against Bitcoin, breaking upwards within a well-defined upward channel, which is unusual, as the higher probability for the upward channel would be a breakout downwards (hence, graphical analysis is a probability, not a crystal ball).
In the chart, we notice that:
The immediate support is near the region of 0.03050.
The most relevant resistance is at the level of 0.03190, a level that has just been tested.
As long as the price remains within the upward channel, the trend remains positive for gold against BTC.
⚠️ It is important to remember that we are entering September, a month historically marked by higher volatility in the crypto market. This requires increased caution in risk management and planning operations.
Also, remember that graphical analysis is probabilistic, not "guesswork". It helps to understand more likely scenarios but does not guarantee results. Invest your money responsibly!
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